Bitcoin miner Hut 8 is expanding its partnership with Bitmain to introduce a new ASIC miner with direct liquid-to-chip cooling, set to deploy in Q2 2025.
New ASIC Miner from Hut 8 and Bitmain
Miami-headquartered crypto mining firm Hut 8 is expanding its partnership with Bitmain to launch the U3S21EXPH, a next-generation ASIC miner capable of reaching up to 860 TH/s. This model will be the first mass-commercialized ASIC model to feature direct liquid-to-chip cooling in a U-form factor.
Agreement Details
According to a press release dated Sept. 19, the U3S21EXPH is scheduled for deployment in Q2 2025. Under the hosting agreement, Hut 8 has the option to purchase all or a portion of the hosted miners in up to three tranches at a fixed price within six months of deployment. If Hut 8 exercises the option in full, the company's self-mining hashrate is expected to increase from 5.6 EH/s to 20.6 EH/s. The agreement is designed to minimize upfront capital expenditures and provide flexibility for future purchases, allowing Hut 8 to assess market conditions before committing additional capital.
Background and Context
The news comes after Hut 8 secured a $150 million investment in June from Coatue Management to accelerate its artificial intelligence infrastructure development. At the time, Hut 8 said the investment was made as many traditional data center operators are failing to meet the surging demand for AI compute capacity due to power shortages.
The announcement of the new ASIC miner from Hut 8 and Bitmain marks a significant step forward in cryptocurrency mining technology, aimed at improving performance and efficiency.
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